TDS on Rent applicable
This query is : Resolved
17 January 2022
The Assessee is holding Proprietorship company, till F.Y.2020-21 income tax audit is not applicable, In F.Y.2021-22 Annual Turnover will be above Rs. 1 Cr.
we are paying rent Rs.38000/-p.m to landlord. I would like to know whether TDS on rent should we deduct 10% TDS from the first month of financial year or after crossing the limit of exemption of Rs240000/-.
we are paying rent Rs.38000/-p.m to landlord. I would like to know whether TDS on rent should we deduct 10% TDS from the first month of financial year or after crossing the limit of exemption of Rs240000/-.
17 January 2022
TDS has to be deducted from first month as you know in the beginning of the year the rent payment exceed threshold.
Message likes :
1 times
17 January 2022
While searching in my query, I found one of the expert reply is
Individual is required to deduct TDS only if his Books of accounts in preceding year audited under section 44AB of the income tax Act, 1961. is it right
Individual is required to deduct TDS only if his Books of accounts in preceding year audited under section 44AB of the income tax Act, 1961. is it right
17 January 2022
Yes, it's right In the FY 2022-23 only TDS applicable for you.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Income Type for interest from government bonds
- Excess income received or excess expenses paid
- What is reason of its
- Is Input or receivable interchangeable words
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
